When it comes to mortgage companies such as RBS, do Suffolk conveyancers have to pay a fee to be on the list of approved solicitors?
We are unaware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
My offer was accepted on an apartment in Suffolk on 28/3/2022, valuation was booked 2 days later, received a clean bill of health. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Coventry BS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Coventry BS conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have finally had an offer on a maisonette in Suffolk accepted, but there is a chain. The vendors have offered on a flat, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Suffolk. What should be my next step? At what point do I apply for the mortgage with Co-operative?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then valuation, Suffolk conveyancing search fees, etc). First, you should check that your lawyer is on the Co-operative conveyancing panel. Regarding the next stages this very much depends on the circumstances of your case, attraction to the property and on the state of the market. In a rising market some purchasers will apply for a home loan with Co-operative and pay for the valuation and only if it comes back ok would they ask their conveyancer to move forward with the conveyancing in Suffolk.
What will a local search tell me concerning the property my wife and I buying in Suffolk?
Suffolk conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for instance Searches UK The local search plays an important role in many a Suffolk conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Due to the input of my in-laws I had a survey completed on a house in Suffolk in advance of instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some banks may not give a mortgage on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to call us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Suffolk. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are first time buyers - had an offer accepted, but the agent informed us that the seller will only move forward if we instruct their recommended conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a local solicitor used to conveyancing in Suffolk
It is unlikely the sellers are behind this. If they want ‘a quick sale', alienating a serious purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and explain that (a)you are genuine purchasers (b)you are ready to go, with finances in place © you are chain free (d) you wish to move quickly (e)however you are going to use your preferred Suffolk conveyancing lawyers - not the ones that will provide the negotiator at the agency a introducer fee or meet his conveyancing targets pre-set by HQ.
If all goes to plan we aim to complete the sale of our £175,000 garden flat in Suffolk in six days. The management company has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Suffolk?
For most leasehold sales in Suffolk conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Completing conveyancing due diligence enquiries
Where consent is required before sale in Suffolk
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I purchased a 2 bed flat in Suffolk, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Suffolk with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2094
You have 72 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.